How does PayID work?

PayID and OSKO are simple services that make securely paying money to a bank account easier & quicker by using the New Payments Platform (NPP). The NPP is owned by Australia's major banks, the Reserve Bank of Australia, CUSCAL (credit unions), Bendigo Bank and several major international banks.

When it comes to paying another person’s PayID, you should find the option to do this in your participating financial institution’s online or mobile banking. Depending on who you bank with, the ability to pay to a PayID may automatically appear as an option, or you may be required to choose an Osko or fast payment first.

Check with your bank if you are unsure how to do a PayID payment. Here are links to instructions for some popular banks:

• ANZ

• Commonwealth Bank

• NAB

• Westpac

• Bendigo Bank

• ING

• St George

Fewer mistakes

When you enter the PayID you intend to pay, the name of the person or organisation that owns that PayID will be confirmed before you make the payment. All you have to do is simply confirm it’s the right person or organisation and your bank will securely communicate with their bank, sending the money via the New Payments Platform into their bank account. And as part of an Osko payment, the money will arrive usually within a minute.

You do not need your own PayID to make a payment to someone else's PayID.